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PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2008 and 2007 Expressed in millions of Rupiah, unless otherwise stated 110

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Labor Law No. 132003 continued 2008 2007 Current service cost 52,165 45,033 Interest cost 68,594 62,432 Amortization of unrecognized past service cost 1,138 870 Cost of Pension benefits 119,621 106,595 Reconciliation of provision for post employment benefits are as follows Bank Mandiri only: 2008 2007 Beginning Balance of Provision for Post Employment Benefits 770,657 678,128 Expenses during the year 119,621 106,595 Payments of benefits 24,735 14,066 Provision for Post Employee Benefits Note 28 865,543 770,657 The amount does not include pension of employees which have resigned but not yet paid amounting to Rp27,253 which have been excluded from actuarial computation . As of December 31, 2008 and 2007, the provision for post employment benefits in the subsidiaries amounted to Rp32,206 and Rp14,281, respectively. Free of Service Period MBT MBT is a period prior to pension age which frees the employee from their active routine job where the related employee does not come to work but still obtains employee benefits such as: salary, medical facility, religion vacation benefit, annual leave if in the current period the employee still has active working period, grand leave if the grand leave within the MBT period, mourning benefit and mourning facility. In addition to the above benefits, the MBT facilities are to provide the employee with an opportunity to prepare prior entering the pension age. The Pension Age, Minimal Working Period and MBT period are as follows: No Pension Age Minimal Working Period MBT Period 1. 56 years 12 years 12 months 2. 46 years 9 years 9 months Assumptions used in the actuarial report for MBT calculation are as follows: a. Discount rate is 12 per annum 2007: 10. b. Expected rate of annual salary increase is 11 2007: 10. c. Normal pension age is 56 years. d. Turnover rate is 5 up to employees’ age of 25 and reducing linearly by 0.167 for each year up to 0 up to at age 55 and there after 2007: 5 up to employees’ age of 25 and reducing linearly by 0.25 for each year up to 0 at age 45 and thereafter. e. Mortality rate table is Indonesia mortality table 1999 or TMI II 2007: US 1980 Commissioners’ Standard Ordinary Table of Mortality. f. Disability rate is 10 of TMI II 2007: 10 of mortality rate. PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2008 and 2007 Expressed in millions of Rupiah, unless otherwise stated 111

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